PRINCESS PRIVATE EQUITY HOLDING LIMITED P R I N C E S S P R I V A T E E Q U I T Y H O L D I N G L I M I T E D
M o n t h l y r e p o r t a s o f 3 0 S e p t e m b e r 2 0 2 1
NAV increases by 0.9% in September
- Princess Private Equity Holding Limited's (Princess or the Company) net asset value increased by 0.9% to EUR 15.64 per share
- Portfolio developments were positive (+1.2%) while currency move- ments were flat
- Princess received distributions of EUR 4.4 million and invested EUR 2.4 million
In September, Princess' NAV increased by 0.9%. The largest contributor to the positive performance was Form Technologies ("Form"), a global manufacturer of customized, highly engineered metal components. Form is benefitting from a continuing recovery in client demand across all business seg- ments. The company reported strong YTD revenue and EBITDA growth, reflecting a large order backlog and ongoing easing of restrictions.
Princess received distributions of EUR 4.4 million during the month from its mature legacy fund portfolio and private debt investments, while EUR
2.4 million was invested in a confidential investment in the US biopharma industry.
Post-month end, on 14 October, the Board of Directors declared a second interim dividend of EUR 0.335 per share for FY 2021, in-line with previous guidance to distribute 5% of opening net asset value for each financial year, via semi-annual payments. The second interim dividend will be paid on 17 December 2021 and the corresponding ex-dividend date will be 11 November 2021.
Princess will hold a quarterly investor update on 10 November 2021 at 10:00 GMT / 11:00 CET. During the webcast, Partners Group, the Investment Manager of Princess, will give an update on the recent developments of the Princess portfolio based on unaudited figures as at 30 September 2021. Please find the registration detailson the Company's webpage or register directly here.
Key figures
In EUR | 31.08.2021 | 30.09.2021 |
NAV per share | 15.49 | 15.64 |
Share price | 13.20 | 13.65 |
Discount to NAV | -14.8% | -12.7% |
Portfolio (in million) | 938.32 | 951.33 |
Net current assets (in million) | 132.99 | 130.10 |
Net asset value (in million) | 1'071.31 | 1'081.43 |
Unfunded commitments (in million) | 118.19 | 121.04 |
Undrawn credit facility (in million) | 80.00 | 80.00 |
Dividend LTM | 0.625 | 0.625 |
Dividend yield | 4.7% | 4.6% |
Key figures in GBP
In GBP | 31.08.2021 | 30.09.2021 |
NAV per share | 13.30 | 13.45 |
Share price | 1'157.50 | 1'160.00 |
NAV performance since inception (total return)
400 | 50% |
300 | 25% |
200 | |
100 | 0% |
0 | -25% |
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 |
- Princess ■ MSCI World TR ■ Performance (RHS)
Total return in EUR (%)
YTD | 1 year | 3 years | 5 years | |
Princess NAV | 19.8 | 26.2 | 55.8 | 94.6 |
Princess share price | 16.2 | 36.5 | 48.3 | 110.0 |
MSCI World TR | 19.3 | 30.4 | 45.1 | 84.5 |
Largest ten direct investments
% of NAV | ||||
1. | KinderCare Education | NAM | Consumer | 4.6 |
discretionary | ||||
2. | Foncia | WEU | Financials | 4.5 |
3. | Ammega (Megadyne - Ammeraal Beltech) | WEU | Industrials | 3.6 |
4. | SRS Distribution, Inc. | NAM | Materials | 3.4 |
5. | Vishal Mega Mart | APC | Consumer | 3.2 |
discretionary | ||||
6. | Techem Metering GmbH | WEU | Industrials | 3.1 |
7. | Fermaca | ROW | Energy | 3.0 |
8. | PCI Pharma Services | NAM | Healthcare | 2.6 |
9. | Civica | WEU | Information | 2.3 |
technology | ||||
10. | Form Technologies | NAM | Materials | 2.2 |
Monthly NAV performance (total return)
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | |
2016 | -1.1% | 0.1% | 1.2% | 2.0% | 2.1% | 1.3% | -0.0% | 2.1% | 1.8% | 0.3% | 0.6% | 1.8% | 12.9% |
2017 | 1.0% | 2.1% | 2.7% | 1.1% | -0.0% | 1.6% | -0.4% | -0.2% | 1.8% | 0.4% | -0.5% | 1.1% | 11.2% |
2018 | 0.2% | 1.0% | 0.7% | 0.8% | 0.2% | 2.7% | 1.1% | 0.2% | 2.1% | -0.6% | -0.2% | -1.6% | 6.8% |
2019 | 0.7% | 1.8% | 3.0% | 0.6% | 0.8% | 2.3% | 0.4% | -0.2% | 4.2% | -0.4% | 0.5% | 5.7% | 21.1% |
2020 | 0.2% | -1.0% | -14.1% | 5.6% | 3.0% | 2.9% | 2.3% | 3.1% | 3.8% | -0.8% | 3.1% | 3.1% | 10.0% |
2021 | 0.1% | 0.9% | 7.3% | 1.5% | 1.2% | 4.8% | 0.6% | 1.1% | 0.9% | 19.8% |
P R I N C E S S P R I V A T E E Q U I T Y H O L D I N G L I M I T E D
M o n t h l y r e p o r t a s o f 3 0 S e p t e m b e r 2 0 2 1
Princess Private Equity Holding Limited (Princess or the Company) is an investment holding company listed on the London Stock Exchange. The Company's investment objective is to provide shareholders with long-term capital growth and an attractive dividend yield by investing in a global portfolio of private companies. Princess is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 119 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure.
Information
For further information please visit:
www.princess-privateequity.net
Key facts
Stock exchange | London |
Reuters Euro Quote | PEY.L |
Reuters Sterling Quote | PEYS.L |
Bloomberg Euro Quote | PEY LN |
Bloomberg Sterling Quote | PEYS LN |
ISIN (Euro and Sterling Quote) | GG00B28C2R28 |
Sedol Euro Quote | B28C2R2 |
Sedol Sterling Quote | BF012D4 |
Product life start date | 12.05.1999 |
Shares outstanding | 69'151'168 |
Investor Relations
Phone: +44 (0) 1481 711 690
Fax: +44 (0) 1481 730 947 princess@partnersgroup.com
Registered Office
Princess Private Equity Holding Limited
Tudor House
P.O. Box 477
Guernsey, GY1 6BD
Portfolio composition
Investments by regional focus | |||||
A | North America | 47% | |||
D | B | Europe | 36% | ||
C | C | Asia-Pacific | 10% | ||
D | Rest of World | 7% | |||
A | |||||
B | |||||
Investments by financing category | |||||
A | Buyout Small/Mid-cap | 66% | |||
C | D | B | Buyout Large/Mega-cap | 21% | |
C | Special situations | 9% | |||
D | Venture capital | 4% | |||
B | |||||
A | |||||
Investments by transaction type | |||||
A | Direct | 95% | |||
B | B | Primary | 5% |
A
Key figures in GBP EUR NAV converted to GBP at month-end GBP/EUR exchange rate from Bloomberg. NAV performance since inception (total return) Indexed to 100. Since inception of Princess Private Equity Holding Limited. Princess: based on monthly total return valuations. MSCI World TR: Bloomberg NDDUWI Index in EUR. Largest ten direct investments Based on net asset value. Portfolio composition Based on total value of investments.
This document is not intended to be an investment advertisement or sales instrument; it constitutes neither an offer nor an attempt to solicit offers for the product described herein. This report was prepared using financial information contained in the company's books and records as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This report describes past performance, which may not be indicative of future results. The company does not accept any liability for actions taken on the basis of the information provided. Please consult the constituent documents for a more complete description of the terms.
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Disclaimer
Princess Private Equity Holding Limited published this content on 27 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2021 05:47:02 UTC.
